James L. Dunn, Jr. Senior Vice President and Chief Financial ... - iLinc

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James L. Dunn, Jr.
Senior Vice President and Chief Financial Officer
602-952-1200
iLinc Reports Removal of Going Concern Provision in Audit Opinion
PHOENIX, Arizona (June 29, 2006) – iLinc Communications, Inc. (AMEX:ILC), a leading developer of
Web conferencing software and audio conferencing solutions, today reported that the going concern
paragraph has been removed from the audit opinion contained in iLinc’s Form 10-K report.
The Going Concern assumption in Generally Accepted Auditing Standards (SAS 59, The Auditor’s
Consideration of an Entity’s Ability to Continue as a Going Concern) requires an auditor to evaluate
conditions or events that raise questions about an entity’s ability to continue as a going concern.
Typically, if an auditor has concerns about a firm’s ability to continue as a going concern, the audit
opinion will contain a paragraph outlining issues regarding this uncertainty. In its recently filed Form 10-
K for the year ended March 31, 2006, iLinc’s auditors did not include any such going concern uncertainty
paragraph in their audit opinion.
“Having the going concern issue removed from our auditor’s opinion for fiscal year 2006 is a significant
accomplishment and an important step in our overall plan,” said James M. Powers, Jr., president and chief
executive officer of iLinc Communications. “Some of our competitors had attempted to use this provision
to scare potential customers away from iLinc, but that tactic will no longer be available. Instead
customers will be free to focus on the merits of our award-winning feature set and our unique licensing
options that we believe give iLinc a sustainable competitive advantage. Having the stigma associated
with a going concern provision removed we hope will increase confidence to not only potential customers
but also to investors. We laid a solid financial foundation in the later part of fiscal year 2006, our
operating fundamentals are strong and our employees are intensely focused on executing our strategy to
accelerate the growth of the company,” further remarked Dr. Powers.
About iLinc Communications, Inc.
iLinc Communications, Inc. is a leading developer of Web conferencing software and audio (telephone)
conferencing services for highly secure and cost-effective collaborative meetings, presentations, and
training sessions. The Company enables customers to purchase and own iLinc Web conferencing
software, which can be installed inside of a customer’s network or hosted by iLinc. Our products and
services include the iLinc Suite of Web Conferencing software (MeetingLinc, LearnLinc,
ConferenceLinc, and SupportLinc); Audio Conferencing Services; On-Demand Conferencing; and
EventPlus, a service for professionally managed online and audio conferencing events. iLinc’s products
and services are used by organizations worldwide in sales, HR and training, marketing, and customer
support. More information about the Phoenix-based Company may be found on the Web at
www.ilinc.com.
This press release contains information that constitutes forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking
statements involve risk and uncertainties that could cause actual results to differ materially from any
future results described within the forward-looking statements. Factors that could contribute to such
differences include the rate of acceptance of the Company’s products and services by customers, changes
in the Web conferencing and audio conferencing market in general, the Company’s need for working
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capital, the competition the Company faces from larger and more well-capitalized competitors, and other
matters more fully disclosed in the Company’s annual report on Form 10-K, quarterly reports on Form
10-Q, and other reports filed with the Securities and Exchange Commission. The forward-looking
information provided herein represents the Company’s estimates and expectations as of the date of the
press release, and subsequent events and developments may cause the Company’s estimates and
expectations to change. The Company specifically disclaims any obligation to update the forward-looking
information in the future. Therefore, this forward-looking information should not be relied upon as
representing the Company’s estimates and expectations of its future financial performance as of any date
subsequent to the date of this press release.
iLinc, iLinc Communications, iLinc Suite, MeetingLinc, LearnLinc, ConferenceLinc, SupportLinc, EventPlus, On-Demand, Web
Presenter and its logos are trademarks or registered trademarks of iLinc Communications, Inc. All other company names and
products may be trademarks of their respective companies.
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